Dave and Sharon Sampson are 30 years old and have two children,who are 5 and 6 years old. Since marrying seven years ago,the Sampsons have relied on Dave's salay,which is currently $48,000 per year. They have not been able to save any money,as Dave's income is just enough to cover their mortgage loan payment and their other expenses.
Dave and Sharon feel they need to take control of their finances. Now that both children are in school,they have decided that Sharon will look into getting a job with mother's hours. She was just hired for a part-time position at a local department store for a salary of $12,000 per year. Dave and Sharon are excited by the prospect of having additional cash inflows- they now feel they have the leeway to start working to ward their financial goals.
The Sampsons own a home valued at about $100,000 and their mortgage is $90,000.